Kirloskar Ferrous Industries Limited has announced that the installation of second High Pressure Moulding Line ('HPML') [Phase I] at Solapur plant has been completed and the commercial production has commenced on 20 March 2023.
Consequently, the manufacturing capacity of castings at company level has increased from 1,50,000 Metric Tonne per annum to 1,70,000 Metric Tonne per annum.
The installation of second HPML [Phase I] has involved the capital expenditure of around ₹ 170 Crores (net of recoverable taxes) and the same has been financed partly by availing the term loan from the bank and partly by internal accruals.
Shares of Kirloskar Ferrous Industries Ltd was last trading in BSE at Rs. 445.90 as compared to the previous close of Rs. 455.20. The total number of shares traded during the day was 28793 in over 1632 trades.
The stock hit an intraday high of Rs. 453.05 and intraday low of 436.20. The net turnover during the day was Rs. 12814874.00.